Michigan Compiled Laws 276-1999-4-4 Part 4 Trusts (487.14401...487.14406)

• Section 487.14401 Trust Powers; Conditions, Limitations, And Restrictions.
  (1) Upon application, the commissioner may grant to any bank or state foreign bank branch trust powers as provided in this section, subject to...
• Section 487.14402 Definitions; Trust Service Agreement.
  (1) As used in this section: (a) “Host bank” means a bank, national bank, association, savings bank, or other legal entity for which trust...
• Section 487.14403 Trust Powers; Segregation Of Assets Held In Fiduciary Capacity; Separate Books And Records; Commingling And Consolidation.
  (1) A bank exercising a trust power as provided in this section and sections 4401, 4402, 4404, and 4405 shall segregate all assets held...
• Section 487.14404 Application For Full Fiduciary Powers; Considerations; Limited Trust Power.
  (1) In acting upon applications for permission to exercise full fiduciary powers as provided in section 4401, the commissioner shall take into consideration the...
• Section 487.14405 Investment Of Trust Funds Or Property; "Registered Investment Company" Defined; Bank Considered As Fiduciary.
  (1) A bank shall invest any money or property held by the bank as fiduciary and available for investment at the time and in...
• Section 487.14406 Repealed. 2005, Act 195, Imd. Eff. Nov. 7, 2005.
  Compiler's Notes: The repealed section pertained to filing suspicious activity report by bank with federal agency.

Last modified: October 10, 2016